Ann: Board Change, page-7

I haven't commented on NTI as I sold my shares in them and am awaiting my next entry - which will be around when they start to hit cash flow neutral. This will mean NTI will need to demonstrate they have got a handle on their distribution networks and are selling a fare amount of product into them.

NTI could still have a really large gain upon releasing full results - so I hope that occurs for current holders. I do believe NTI does have a product which works - but the challenge will always be with getting the child to keep the Mente Autism device on and ensuring the parent maintains the regime. It is less of a problem with the device and more of an issue with parent motivation (not saying parents of children are not motivated). This may have been demonstrated in the drop off rates in the study - but it may be due to something else - the full study results will be telling, either way.

For current holders there are still some big short term development stage milestones to come; namely - Full results publication, FDA Submission and UK distribution agreement. NTI could hit the 30c mark if all of these announcements go well.

If NTI does indicate it can obtain sufficient sales through its distribution network (which it should be able to) as the market is absolutely huge and there are no other in-home autism management products on the market NTI could be a unicorn. My opinion is - if NTI does obtain cash flow neutral in sales - the scale-ability of the product will mean that it will likely unicorn.

Finally, the resignation of Adrian from NTI is not necessarily a bad thing either. What it likely indicates (which I will confirm after reading the full results) is that the 'Development' stage of the company is almost over and NTI are setting themselves up to achieve production stage output goals. If this is the case I would expect the individual that acquires Adrian's empty non-executive director position will have the strong attributes of increasing product output.

And I forgot to change my current holding status - oh well